Important Information on the HARP Refinance Program
HARP (Home Affordable Refinancing Program) is a federal program that is meant to help homeowners who are dealing with financial difficulty. There are many reasons people pursue this type of refinancing program, but the most common are because they are facing foreclosure or owe more on their mortgage than their home is worth. While there are some stipulations for qualifying for the Home Affordable Refinancing Program, there is one aspect that is crucial. The homeowner must have a qualifying Fannie Mae or Freddie Mac loan to be considered. With this information, provided by California Mortgage, homeowners can be fully prepared on whether or not they should pursue a refinance option through the Home Affordable Refinancing Program.
There are many benefits for homeowners when they refinance through HARP:
Homeowners can be given lower interest rates for more affordable payments.
Payments can be lowered substantially so homeowners are no longer struggling to pay their mortgage.
Homeowners can be given fixed rates on their loans so they will never fluctuate.
Lowered fees make a mortgage even more affordable for homeowners who refinance through HARP.
The goal of this federal refinance program is to help homeowners who may have been affected by the housing bubble and are now finding it difficult to make their payments. With this program, homeowners can take advantage of today's lower interest rates and be given a more stable mortgage that will not fluctuate and cause them to pay higher mortgage payments.
Since there are several steps in applying for a HARP loan, it behooves homeowners to work with a qualified HARP agent that is fully educated on the rules and regulations of the program to ensure the right steps are taken. With a mortgage adviser, the steps will be carefully carried out so the homeowner can find out if they qualify and what the new terms of their refinanced mortgage will be.
To find out if you qualify for the Home Affordable Refinancing Program, http://www.calmtg.com/harp-refinance-program.html. This site is full of information on the HARP program and can help guide homeowners on whether or not this program will provide them the financial relief they are seeking. Homeowners can view the requirements for the program to find out if they are eligible. They can also fill out an online form to get started on applying or schedule a meeting with one of the expert loan advisers.
Homeowners who are looking for more information on the HARP loan program can see more at CalMtg.com. Visit the site today or contact the office of California Mortgage Advisors to start the process. They will be happy to help you through each step.
